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zlopas [31]
2 years ago
6

Stripes Inc. has a noncontributory defined pension plan for its employees. During 2020, the company had service cost of $45,000,

an expected return on plan assets of $9,500, amortization of prior servicecost of $4,000, amortization of net pension loss of $2,000, and benefits paid to employees of $40,000. The January 1, 2020, balance in its projected benefit obligation was $200,000. The discount rate is 8%. Stripes pension expense for 2020 would be?
a. $59,500
b. $61,500
c. $53,500
d. $50,500
Business
1 answer:
ser-zykov [4K]2 years ago
6 0
I think the answer is A
-Have a good day
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1 year ago
A conversion strategy whereby an organization uses the new system with select users/parts of the organization until issues are r
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Answer:

A) Pilot strategy

Explanation:

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5 0
3 years ago
Shmenson Company uses the periodic inventory system. Sales for 2020 were $470,000 while operating expenses were $175,000. Beginn
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Answer:

The net income  for 2020 was $90,000

Explanation:

Shmenson Company

Income Statement for the year ended 2020

Sales                                                                             $470,000

Less Cost of Sales

Beginning Inventories                           $70,000

Add Net purchases                              $180,000

Add Freight In                                         $15,000

Less Ending Inventories                      ($60,000)     ($205,000)

Gross Profit                                                                  $265,000

Less Expenses

Operating expenses                                                   ($175,000)

Net Income                                                                    $90,000

Conclusion

Thus, the net income  for 2020 was $90,000.

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